Cabot Options Institute Quant Trader – Trade Alert (SPY)
S&P 500 ETF (SPY)
Our stop loss has been hit, so we need to stay disciplined and exit the trade. We’ve seen back-to-back losses for the first time since early February of this year and, believe me, more losses will come. But, as we all know, by staying disciplined and continuing to stick with our high-probability approach we will be successful over the long haul and that’s what truly matters. Remember, we need to allow the law of large numbers to work in our favor, and taking stop losses, when the time calls, keeps us moving in the right direction.
The Trade
Simultaneously:
- Buy to Close SPY December 15, 2023, 445 call strike
- Sell to Close SPY December 15, 2023, 450 call strike
- Buy to Close SPY December 15, 2023, 380 put strike
- Sell to Close SPY December 15, 2023, 375 put strike … for a total of $3.00. (As always, the price of the spread can vary from the time of the alert, so please adjust accordingly.)
If you have any questions please do not hesitate to email me at andy@cabotwealth.com.